 My name is the Steve Rose as we do each and every Monday at 20 past the hour and don't forget folks Steve has an outstanding show here every trading day One to two Eastern Standard Time also is a great newsletter and mastering probability now It's very easy to get Steve's newsletter folks from over that website of TFNN You go to newsletters. You're gonna see master in probability right on the right-hand side You just hit subscribe you get master in probability for one month for a hundred and forty nine dollars You get it for six months for 695 which is a savings of a hundred and ninety-nine dollars at 22% And you can get it for one year for 1195 which is a savings of five hundred ninety three dollars of 33% Now they all come with a 30-day money back guarantee folks Okay, you have everything to win zero to lose Steve has a huge amount of archives on there Really get you to understand how he looks at the market each and every day Steve Rhodes What's going on? Just just trying to overcome my golf withdrawal after a full weekend of the British Open and non-stop Golf out there. I'm an early riser So and it started broadcasting on the on the television stations at about four o'clock in the morning So it was great to have something to do early in the morning out there. It was a great tournament Was it was it amazing or what that? you know That Cameron could do what he did if you didn't see this folks, okay? And it was a shame because Rory missed so many of those By like nothing for those birdies, right? It was like yes The the the the the interesting thing is if you played golf long enough You know that one day you show up Yeah, and it's like you you're in and really at the British Open it really is all about putting I mean each of these guys have got good long games Yeah, and the ability to get the ball up there to hit a wedge into the into the greens So it really boils down to the putting I know in almost all the golf tournaments the winner is usually number one or number two Position out there, but if you played golf long enough It's it's a you know You can show up on a Saturday and it's like you can't miss a putt, right? Even your putts that you think aren't gonna go in go in and then you have those days where you just can't sink A darn thing I seem to see that that also happens with the pros to all right You know and Rory was a was a perfect example of that Victor Havland he's one of the guys. It's a really rising star. Yeah, I guess that's yeah Yeah, and it just you know I really thought that he might be the one that would pull it off, but again They're under a ton of pressure, you know on a Sunday even though they might say you know They can handle it. They're still under under pressure So it's kind of fun to watch the pros when they're playing a difficult course like that It kind of brings you know that they even duff some shots out there Oh, it was amazing watching and how about the guy that came in second no one's even talking about him cameras Potter the whole time and then he comes in second, right? Yeah, yeah, well through on After the after the midpoint on Saturday He was the one that was in the lead and in in and on That through Friday and then on Saturday he had one of his putting days where nothing would go Wow out there So it's it's just really you know kind of interesting and but that camp Smith guy I mean he is he's he's just a he's a great player No, you know what I was gonna say and I forgot the name of it. I was gonna say where's your mullet I was I forgot what I I forgot what it was called when I was coming on because that's right Yeah, because folks you're gonna see this. I mean when you think of golf I can even think of off 20 years ago I remember when whether it was John Dailey or surgeon Garcia They come on with the break closing all that when you first see this guy's got a huge mullet And guess what doesn't matter. You look like folks matters whether you win or lose That's for sure. That's for sure. I'll be disappointed if he if he ends up campus myth If he ends up going over to that live tour out there You know, so hopefully he hopefully he stays I know there's some rumors about that being one possibility But hopefully stays on the PGA or you know, and so so hey with this chart here that I've looked at this Numerous times out here for those folks that are just listening in this is a midterm Seasonal chart pattern for the S&P 500 and this takes a look at the last 72 years The red vertical line that you see out there represents where we're at today And in essence the the way that I would take a look at this chart It really tells me that if we follow along this pattern that we're really in a Consolidating type of pattern that could easily last through the early part of October out here So that's what this chart tells us if we go ahead and expand out and take a look at the bottom of this chart here It also shows us what the average return by day is from a percentage standpoint as well as what the average return For this time period for these for the midterm Election years by month out there So if we if we blow that up and take a look at it and this again this the S&P 500 Seasonally February was supposed to be an up month and May was supposed to be a down month So those only two months that didn't tie out to be exact So four out of the six seem to be following along the path out here if we go take a look at the end the x100 though And as you pointed out the use you said the SMH's could drive the market higher drive the market lower We put the NDX 100 in that same category out here And this is the scary thing that red vertical line is represented So let's take a look at the NDX 100 over the last 36 years And again that red line identifies where we're at right now and this suggests that we should see a market that moves lower Into the end of July early part of August before we get any kind of a significant rally out there So that's what this average pattern shows us like the S&P 500 February was supposed to generate a positive take a look over here on the left-hand side We're supposed to produce a positive month that didn't it was slightly negative But otherwise everything else here is really tracking right online and we can see that July July and August are supposed to be down months as well Obviously right now we're off to a month the upside yes, I agree with you we see a bottom out there But again just take a look at the seasonal pattern It does say that we need to really focus on the in my opinion We need to focus on the NQ and if we take a look at what it did today So this is a picture from maybe about a half an hour ago Yes, what price was able to do this rally Tom took us right up into the bottom of its profile at 12197 It got it was maybe within about 10 points of that and that it backed off I believe was some of the news on Apple that had us back off there, but It hit resistance and when I take the guy's seasonal chart, you know, I like huh what what's going on I listen every time it's hitting it. I know what you're saying, man Even I listen to your show today. I know right. It's no doubt. I know yeah Yeah So what this could potentially could bring into play here because if you can't bust into the upside upside You know you try to bust in the downside as you pointed out They know towards the end of last week we couldn't bust in the downside So it's gonna try to bust in the upside. Well, where is that upside? Where is that resistance? Well from a profile standpoint to set that 12197 area So if we do see a market that moves lower Then we're looking at maybe about the 11 sit once 11 630 area, which is these rising trend lines So those would be the next targets if we do see a pullback. So We got that kind of screwed up here So the number one way to instrument the index one everybody knows is Apple and again This was a snapshot for maybe about a half an hour ago and what Apple might be doing today is completing a Sell the d-point or a Gertleys sell pattern and that would be on the assumption that it goes ahead and produces a bearish and Go a bearish reversal candle right now. It was a bearish engulfing candle And it needs to do that by four o'clock today The interesting thing here though is even though we've got this potential sell the d-point or Gertleys sell pattern What price is also done is pulled back and tested the top of its daily profile, which is 147 55 So that is a key level of support. I don't know where it's trading right now, Tom I was 4760 is it as long as price holds 147 55 even with the topping signal I consider that to be a neutral sign, but a price does close below 147 55 But suggest a further pullback out here and that further pullback could easily be about 143 or so So we're just in a market that we could see a lot of this. It's a great day traders market No back and forth no doubt unless it's folks really easy to get Steve's newsletter come over to our website at TFNN You'll see going to newsletters you hit mastering probability in the right-hand side you are off to the races Steve Have a great one safe on the foreshore tomorrow. Thank you. Stay ready folks come right back